EU Approves 53 Crypto Firms

EU Approves 53 Crypto Firms Under MiCA: Why Are Tether and Binance Not on the List?

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Introduction

Under the EU Crypto Asset Markets Regulation (MiCA), 53 crypto asset platforms have received official authorization to operate across the European Economic Area (EEA). However, crypto giants such as Tether and Binance are not on this list!

Europe's Crypto Acceptance and MiCA Regulation

MiCA regulations continue to increase in Europe. A data was shared by Circle's EU Policy Director Patrick Hansen. According to the new data shared, 39 crypto asset service providers (CASPs) and 14 stablecoin issuers, in total 53 companies, have received MiCA licenses. These companies are able to provide services in 30 EEA countries.

Countries such as France, Germany and the Netherlands stand out in terms of stablecoins. These countries constitute a total of 9 authorized issuers. These stablecoins are mainly cryptocurrencies backed by fiat, i.e. fiat money, in euros and dollars. USDT (Tether) is not on the list! In our opinion, this is a big loss for the EU. On the CASP side, Germany and the Netherlands are the leading regulatory drivers. Together, they make up 23 of the 39 authorized providers.

Which Exchanges Have Received Licenses

Big names such as Coinbase, Bitstamp, Kraken and OKX are among the crypto-focused companies that have received licenses. In addition, Robinhood, Trade Republic and BBVA from the traditional finance sector are also on the list. The absence of market giants Tether and Binance raises questions. Tether, the issuer of the world's largest stablecoin USDT, is not yet among the 14 EMT authorized companies. This is also a big loss. Binance, which is under constant scrutiny by European regulators, is also not on the CASP list.

Where are the Giants? Binance & Tether (USDT)

Tether and Binance could not receive licenses under MiCA. The most widely used stablecoin in the cryptocurrency world is known as USDT. The most liquid exchange is known as Binance. For Tether, it may not be accepted given the company’s regulatory controversy and regulatory status. The absence of Binance exchange may be due to other legal challenges within the EU.

Tether has long relied on declarations rather than full audits to verify its reserves. In an interview in April 2025, CEO Paolo Ardoino admitted that the company was still looking for a top audit partner but was facing obstacles. The company stated that it had 1:1 reserves, but it could not qualify for MiCA. Binance restructured some of its European operations due to MiCA issues, disabled copy trading, and limited unregulated stablecoins. Binance is known to have made great efforts to comply with MiCA.

Conclusion

The fact that 53 different crypto asset platforms were licensed in MiCA regulations and license applications is a very good development for the crypto world. However, the absence of giants on this stage is quite thought-provoking.

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